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Collaborative capabilities should span both data and analytics processes. Our assessment finds a wide variation in the types of support vendors provide for collaboration.
BEND, OR, April 29, 2021 /24-7PressRelease/ -- Ventana Research today released its 2021 Value Index on Collaborative Analytics and Data, a quantified, research-based index evaluating technology providers and products. This Value Index assesses 18 vendors' products using our Analytics and Data blueprint, evaluating software in seven key categories that are weighted based on our expertise and research to reflect buyers' needs. The structure of the Value Index reflects our understanding that proper evaluation involves far more than just examining product features, potential revenue or customers gained. We believe it is important to take this comprehensive research-based approach, since making the wrong choice of technology can raise the total cost of ownership, lower return on investment and hamper an organization's ability to reach its performance potential.
Using the Value Index, businesses can mitigate risk and reduce the time it takes to assess and select analytics and data software that supports collaborative processes. Ventana Research's Value Indexes are the result of decades of experience and over 18 years of research and knowledge of the market for analytics and data software. It provides an in-depth analysis of technology suppliers' products working with mobile technology, evaluating their strengths and gaps compared to competitors' products.
The Value Index for Collaborative Analytics and Data is based on a comprehensive examination of 18 vendors' products in seven evaluation categories, five that evaluate the products' experience and the ability to support the breadth and depth of business and technology needs for analytics and data and two that address customer experience and the supporting vendor validation and total cost of ownership/return on investment.
The 2021 Value Index for Collaborative Analytics and Data identifies the companies that deliver the highest value based on an overall weighted evaluation and the rating of the vendor for product and customer experience. The Overall Value Index Leaders in the 2021 Value Index and ranked as IBM, Qlik, and Domo. The Value Index leaders for ranked Product Experience across five categories are IBM, Domo and Yellowfin. Leaders ranked in Customer Experience across two categories are SAP, Qlik and IBM. Companies that rank in the top three in any category earn the designation Value Index Leader. MicroStrategy and Qlik has done so in four of the seven evaluation categories and Yellowfin have done so in three of the seven categories; Board, IBM, Oracle and SAP are a Value Index Leader in two categories and Domo, Information Builders and Tableau is a leader in one category.
The Value Index, through the thorough analysis of product and customer experience, has categorized vendors into four classifications: Exemplary, Innovation, Assurance and Merit. We found five vendors rated as Exemplary: Board, Domo, IBM, Qlik and MicroStrategy; Innovative: Information Builders, Microsoft, Oracle and Yellowfin; Assurance: Infor, SAP, SAS and Tableau; Merit: Amazon, Google, Sisense, Tibco and ThoughtSpot. Criteria for inclusion in the Value Index include minimum annual revenue, countries of operations and product areas of support for analytics and data software, which are outlined in more detail within the report.
The Value Index is not just a listing of vendors or a selection of "cool" products; rather than evaluating a vendor primarily on its vision or market execution, the Value Index provides specific numerical ratings, both overall and for each of the seven components of the Value Index, for technology buyers to consider. Organizations can also use the Value Index as a guide to assess existing technology providers and determine if their provider best meets their needs today and in the future.
"Every organization with multiple employees performing analytics needs to collaborate," said David Menninger, SVP and Research Director at Ventana Research. "Individuals should be collaborating in the analytics process and in communicating the results of those analyses. Collaborative capabilities should span both data and analytics processes. Our assessment finds a wide variation in the types of support vendors provide for collaboration."
"Assessing vendors and products is more than looking at their vision, strategy and go to market efforts, but evaluating the actual products and examining its technological capability to support the specific requirements of an organization," said Mark Smith, CEO and Chief Research Officer at Ventana Research. "In addition, the customer experience a vendor provides is essential to the successful relationship with an organization using their products. This Value Index like all from Ventana Research demonstrates the importance of assessing vendors on what matters for an organization performing an evaluation and assessment, and avoid analyst firm ratings that use a methodology that is less about their needs."
The Collaborative Analytics and Data Value Index is neither sponsored nor influenced by technology vendors and is conducted solely in pursuit of Ventana Research's mission to provide value to business and IT through advisory services, benchmark assessments and workshops. Ventana Research's goal is to help guide organizations to optimal efficiency in their use of technology investments for business and IT. To learn more and read the market report of the 2021 Value Index for Collaborative Analytics and Data, please visit https://www.ventanaresearch.com/value_index/analytics/collaborative_analytics_and_data/market-report/2021.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including, Twitter, Facebook and LinkedIn.
To learn how Ventana Research advances the maturity of organizations' use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
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